So where are the Chinese wealthy putting their money to use these days?

Xu Xin, president of Deer Jet, a subsidiary of the Hainan Airlines Group, told China Daily that he is very optimistic about the Chinese business aviation market due to the increasing number of rich people in China and their willingness to spend more on business jets.

Almost half of wealthy individuals intend to take part in training programs over the next three years, the paper reported. More than one-third of them like to attend conferences and lectures, while almost 30% taken part in executive MBA programs or further education classes. More than three-fourths of them feel that the biggest benefit they get from this sort of activity is in helping expand their social networks, according to the study.

Just because they’re rich, it doesn’t make them shopaholics. Having passed through the status seeking phase, many of China’s rich have now entered the stage of wealth preservation instead.